eighth Pay Fee permitted: What wage hike can central authorities staff anticipate?
The Union Cupboard, led by Prime Minister Narendra Modi on Thursday permitted the eighth Pay Fee to revise salaries of the central authorities staff, with the essential choice being made forward of the annual February 1 Union Finances.
Wage hike
The central authorities has not revealed the share by which salaries of its workers can be raised. Nevertheless, consultants have estimated that the “fitment issue” may see an increase from the present 2.57 to 2.86.
Subsequently, with a fitment issue of two.86, the minimal primary wage of the federal government staff may almost triple, from ₹18,000 to ₹51,480 monthly.
Worker unions had demanded a 3.68 fitment issue for the seventh Pay Fee wage revision, however the authorities of the day selected a fitment issue of two.57.
What’s ‘fitment issue’?
It’s a key multiplier used to calculate salaries and pensions for the federal government workers. It’s decided by means of elements similar to inflation, staff’ necessities, authorities’s affordability, and many others.
What’s Pay Fee?
Each 10 years, the federal government constitutes the Pay Fee to evaluate and advocate modifications to the wage construction of its staff. Moreover, the fee opinions bonuses, perks, allowances, and different advantages offered to authorities staff.
There have been seven Pay Commissions since 1946. At the moment, suggestions of the seventh Pay Fee, shaped by the earlier Manmohan Singh-led United Progressive Alliance authorities in 2014, are being adopted. Its suggestions have been applied on January 1, 2016.
What number of beneficiaries of eighth Pay Fee?
Practically 50 lakh staff, together with defence personnel, are anticipated to profit from its suggestions. Moreover, 65 lakh pensioners – together with defence retirees – who obtain their pensions from the Centre, are additionally prone to profit from the suggestions.
